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of detroit starts the process of putting its priceless museum artwork up for auction. you wouldn't believe how much it could be worth. all those stories and much more coming up on the "kudlow report" right now. good evening, i'm larry kudlow. this is the "kudlow report." first up tonight, breaking news, jeff bezos paying $250 million for "the washington post" newspaper. a few days ago boston red sox owner john henry bought the "boston globe" for the bargain basement price of only $70 million. what is going on here? why will these foes succeed while others have failed. joining us is our own julia boorstin. why will they succeed where others have failed in. >> i think the question is how do you define success? one thing jeff bezos makes very clear in his letter about this and it was also in the press release is that he's not investing this just as a financial endeavor but he sees this as supporting journalism. he says "i understand the critical role the post plays in washington, d.c. and our nation and the post values will not change." he talks about the importance of the fact that the inter
detroit going bankrupt, mustafmustafa. what kind of effect do you think detroit going bankrupt will have on the industry? >> very little. detroit as a city is quite separate, you know, from the auto industry itself. all three of the detroit-based companies are global companies and, you know, much of our sales are obviously outside detroit in the states and around the world. so the direct impact on the industry will be quite, you know, minimal, but the people that work for gm live in detroit and obviously that's an area of concern for us, but, you know, from the perspective of auto sales and the performance of the industry and its employment, you'll not see much of the impact if any. >> we'll leave it there. thank you so much. we'll see you soon. >>> coming up next, what does the earnings report mean for ben bernanke. former fed governor randall kroszner will give us his take. >>> then he was once the richest man. iky batista has lost some $33 billion in 16 months. we'll find out what happened. >>> then millions of time warner customers are less than an hour away from losing all cbs progr
, of course, his appeal. the biggest names on the list of 12, as you call it, jhonny peralta of the detroit tigers, that's big. the starting shortstop for the tigers. and, by the way, they are leading the a.l. central leader. nelson cruz, all-star player for the texas rangers. but everybody trumped by alex rodriguez, highest paid player in major league baseball, suspended for all of this year and next year. still owed $86 million by the yankees in the remainder of his contract, and what makes this story have a little more sizzle on this day, is the yankees are playing in chicago this evening. a. rod is expected to take the field for the yankees unless we hear otherwise this evening in chicago. we'll have more on this story for the remainder -- throughout the remainder of this program and the "closing bell" at 4:00. but let's get back to our discussion with the market guests, as we focus on this monday in august on wall street. again, josh brown was with us, as is rick santelli, kyle harrington, and anton bear from up capital. anton, to you, what do you make of where we are in the market? wh
in the detroit bankruptcy story. we have that and other headlines of the day just ahead on "the kudlow report." please stay with us. [ female announcer ] what if the next big thing, isn't a thing at all? it's lots of things. all waking up. connecting to the global phenomenon we call the internet of everything. ♪ it's going to be amazing. and exciting. and maybe, most remarkably, not that far away. we're going to wake the world up. and watch, with eyes wide, as it gets to work. cisco. tomorrow starts here. (announcer) at scottrade, our clto make their money do (ann) to help me plan my next move, i take scottrade's free, in-branch seminars... plus, their live webinars. i use daily market commentary to improve my strategy. and my local scottrade office guides my learning every step of the way. because they know i don't trade like everybody. i trade like me. i'm with scottrade. (announcer) scottrade... ranked "highest in customer loyalty for brokerage and investment companies." and then another. and another. and if you do it. and your friends do it. and their friends do it... soon we'll
. in detroit, it's speak now or forever hold your peace. today is the deadline for written objections to detroit's bankruptcy filing. wdiv's rod maloney is in the motor city with what's on the line. rod, good to have you. >> reporter: thank you, maria. i'm glad to be here. you know, it's one of the things where tonight at midnight, anybody who objects to the bankruptcy filing by the city has to do that. so, in fact, this morning, a large group of detroiters got together out in front of the bankruptcy court here, from the national action network, reverend al sharpton organization, and they started out filling paperwork and submitted it to the bankruptcy court today. it showed up in the filing. along with them were a lot of other creditors looking to try and derail this process. and what many people don't understand about municipal bankruptcy is that you can't just file and then you are in bankruptcy. it is a qualification process. and so, what they're doing here is they're making their objections known to the judge, telling him that they don't think this is a right or constitutional pr
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at the rise of twit we are the company's co-founder in just a couple minutes. >>> plus, is the detroit bankruptcy just the beginning? we'll take a look at state and local governments to see who might be the next bankruptcy and where it might be coming. is your city next? >>> first up, as we told you a few moments ago, the president cancelling a summit with vl vladimir putin over the treatment of edward snowden. eamon javers is live in washington with the latest. >> carl, just within the past few minutes or so, the white house has put out a statement saying that the president now that he's got some time to kill while he's over in europe is going to visit sweden which the white house calls a close friend and partner and obvious jab at russia. the white house saying this morning that the president is not going to participate in this planned summit with vladimir putin, the russian president. he is, however, going to go to the g-20, that's in st. petersburg, russia. he's not going to have that moscow meeting with put putin, however. among the reasons was the decision to give edward snowden
of the things i want to talk to him about, the detroit store, everyone is running from detroit, whole foods runs to detroit. what a great american company. >> you do forget, i think, seven, what is it, we say 75, some of these stores are more than a decade old, jim. >> the new stores are doing exactly what they want and that's still remarkable growth. chicago po chipotle and starbucks, a pantheon of people behind the scenes and they all talk to each other and whole foods needs to do a credible infinity program not unlike what starbucks has, they'll do it. but this quarter there was a guy that said, listen, i was at your -- really kind of funny. a new guy, identify was at your des moines store and that was not a good store. they come right back, have you been to our, mentioned the oxnard store. there was such an timothy, it's not like they are idiots. they're the best operators there is! and the people were, like, you know, slamming them, will you give me a break! give me a break! >> okay, i will. i'm happy to give you a break when you want one. >> thank you. i felt there was a lack of respect on
remarkable. yes. >> i'm from detroit, michigan. i'm wondering what you think the recent bankruptcy is going to do to ford. >> ford is going to have no impact. malawi, great thing to do with the natural gas. i think it's going to go to 20 within this year. maybe as high as 23. do not worry about ford in detroit. they are separate from each other. that's it? okay. don't let the chance slip by of the last day of the most bullish month of the year. the win belongs to those who do the homework and are in the arena. the loss, bye bye. we'll be right back. >> atomic action. buffalo wild wings chewed through wall street's expectations as it slatherred on the profits. the stock's been a wild winner in 2013. but is the future mild, medium or hot? don't miss cramer's exclusive with the ceo and later, well traveled? the travel sector has been experiencing its share of turbulence. trip adviser headed skyward after earnings while expedia's flight was grounded. tonight, cramer checks in on price line. is it looking five star or more like a bates motel and cloud computing and health care technology drive t
? >> eric, i know you're joining us from detroit. a quick question regarding the sales for you guys, up more than 11%. but when you take a look at where trucks were, the real engine of your growth. are you seeing strength in one particular area of truck sales around the country, or is it pretty much across the board? >> it's pretty much across the board, phil. we are seeing some strength in some of the hotter housing markets, such as in california, new york and places like miami, but we're seeing truck strength really across the board. there really aren't any regions across the country that are down on trucks right now. >> while your truck sales were up 22.6%, i want to talk about the fusion, which is your top-selling car. sales down 12%. i know you were supply constrained because you were ramping up production at your flat rock assembly plant, but it brings up the question, did you leave some sales on the table last month? >> well, certainly if we had more inventory on some of our key vehicles like the fusion, we probably could have done even a little better than what we did on the retail s
not been a problem. >> go talk to the people in detroit and ask them how their debt problem is. >> i agree. detroit's got problem. listen to president obama. i think he's got this one right. the deficit has come down substantially. spending has come down substantially. a good left-wing keynesian would be worried we're not getting enough fiscal stimulus. i don't believe any of that nonsense but that's what they would be saying. it's hard for me to worry about that. i am more concerned about capital spending and whether businesses will invest and that's the ultimate job creator. at this point i'm just trying to find, you know, poke a hole or two. things look so good. every single sector today was up, ed butkowsky. when i see that and see this euphoric, i think i better look for something else. you get the last word. >> i have been bullish for many years and you just take a snapshot. right now this evenings look gr. anybody who dropped down from outer space and looked at stock prices, you say things look really good. however, you really never know. >> thank you dennis gartman, dan greenhaus,
's creating a lot of buying opportunities. >> texas isn't detroit. but does detroit have any impact on what was happening with that muni bond? >> i think it is, it is scarying investors. it's very tough to be a retail investor in a lot of these markets right now. because you don't have the visibility. you mentioned the detroit situation. that's going to be interesting. the thing that's going on in california also, there is a lot of things set about who has priority in these cases. >> are you talking specifically the town considering taking back through em90 domain? >> that's not really what i'm talking about. it's more about the fight between the pensioners and the hoerlsd and the rest of the players in these situations. >> it could happen on a federal level. you are talking a 30-year bond. it's a long time to hold out. >> definitely. at 10%. that's a crazy number. so the that any sort of normalization of these markets will see those, a nice inflation and total return in a i'm in like that. so we like those things. there are more and more of those popping up on our radar screen every
of civilizations that have gotten into trouble. in detroit, people are wondering, do we have the same problems that crop up here? >> we are. we can fix them. basically what happens to a great power when it stumbles, its politics don't keep up with economics. it was true in rome and china, otoman empire. true today, our problem is the debt crisis. >> the debt crisis and some people would say entitlements. you have to look at that. republicans are saying that. >> at the federal level. itself the core of it. the nation is on an unsustainable path. with key fix this. we request get our mojo back, growth back, tomorrow, not today. >> what do we have to do? >> we need to get on a glide path to slow entitlement programs and bring down government spending and debt overtime. with decan do it in a way that's aggressive or gradual. we have to start now. >> i look at what was happening in detroit. is this a situation when you don't take action, this is where you wind up? are there other municipalities set up in a similar way or is detroit unique because of the huge numbers of people who have left? >> well
the challenges in front of detroit. >> yes, that was really good. that was really good. >> very nice work. >>> speaking of the consumer, kelly evans talked about it on the i yesterday. >> morning, yeah. >> not your father's volatility is the joking reference here but, in fact, there's quite a bit of important things happening below the surface. gdp report which showed 2.5% growth, critical. what we need to see is that kind of performance repeated in the second half of the year to support interest rates at these levels. look at what's been happening with regard to where we've seen more of the action lately. not in the stock market so much, and we can see the narrow trading ranges we've been in. the vix hasn't gone anywhere. the story is about the volatility, guys, in the bond market. there's a term for this that the fed uses and has been focused on lately. it's called term premium. the fact that we've moved on the ten year. the key interest rate which determines everything from mortgages to speaking the cost of finance across the economy, the fact that that's gone from below 1.7% to almost
, sue. >> some welcome news today for bankrupt detroit. ford is ramping up production at its flat rock assembly plant just north of that city. phil bowsen is in flat rock where he talked to ceo alan mulally just a little bit ago. hi, phil. >> hi, sue. we're here at the flat rock assembly line as fusions and mustangs are rolling off the line. they'll be building both those models here, adding to the fusion production here. this is a big deal for ford. previously the fusion was built exclusively at its plant in mexico. ford was running tight on supplies, so it said, you know what? let's bring fusion production back here to flat rock, which is just south of detroit, and as a result they've added 1400 jobs, the second shift here. keep in mind half of ford's u.s. plant are now running three shifts. for the ford production, this is critical because you're looking at the best-selling car ford makes and the best-selling u.s. brand car. if you take a look at the top-selling cars this year, the fusion is number 6, and that's mainly because it's constrained by supply. it's nipping at the heels of
, you might be surprised to hear how detroit handled a $1 million check like chump change. we'll tell you more. that's coming up after the break. [ male announcer ] i've seen incredible things. otherworldly things. but there are some things i've never seen before. this ge jet engine can understand 5,000 data samples per second. which is good for business. because planes use less fuel, spend less time on the ground and more time in the air. suddenly, faraway places don't seem so...far away. ♪ >>> and these are your headlines. u.s. authorities are reportedly set to arrest two former jpmorgan employees allegedly tied to the london whale losses. >>> japan's economy grows less than expected in the second quarter, casting doubt over plans for a sales tax hike. >>> prudential ceo tells cnbc he's still confident on asia after posting a 22% surge in group operating profits. >>> i just want to bring you some flashes from the german finance ministry. it is not aware of a new document on greece. now, this comes hot on the heels of the reports in a german magazine saying bundesbank is preparing
for $250 million to amazon founder and ceo jeff bezos. will detroit have to sell its prized art collection to pay the bills? we'll have more on that and other stories in the final part of "worldwide exchange" right after this. >>> president obama heads to phoenix in arizona to continue his summer tour. he's expected to call on congress to back a bipartisan measure to shutter mortgage giants freddie mac and fannie mae. the president will also renew effort for sweeping mortgage refinancing legislation. >>> morgan stanley looking to sell a minority stake in the commodity business which evens three u.s. power plants and a pipeline. the reports say the bank has been shopping the u.nit for mor than a year. it isn't close to a deal. reports say the company isn't being pressed to sell the entire business, despite ownership of physical commodities. morgan stanley stock up .75% in frankfurt. >>> chevron will pay a $2 million fine stemming from the fire at its richmond, california, refinery last august. smoke from the fire sent hundreds of residents to hospitals with breathing problems. the blaze als
'm flying to the upper peninsula of michigan. i got a long layover in detroit. i put four episodes of "breaking b bad" on my ipad and plan to watch it. later on this afternoon, lions' gate, monster beverage and priceline among others. some of the nation's retailers will report their monthly sales today. limited, gap and costco are among the biggest ones that still do. earlier this morning, real early, costco said its july comps rose 4%, just shif analysts' expectations. hurt by a stronger dollar that pulled in weak sales from overseas stores. >> jpmorgan says it is being investigated by criminal and civil divisions of the department of justice over offerings of mortgage-backed securities this is financial crisis stuff. the doj gave them notice that it had preliminarily concluded the firm violated federal security laws in offerings of subprime and alt-s a residential mortgage securities. the only thing that is bugging me about this story a lot is jpmorgan, and don't want to -- i don't feel like i need to be the defender of jpmorgan, i came to jamie dimon's defense a couple of months
's "new york times" that has a lot of people buzzing suggesting that detroit's neighbors are currently being hurt by the woes of motown. cities, counties and other local governments in michigan are getting a cold shoulder in the municipal bond market. just two weeks after detroit declared bankruptcy, borrowing costs are up around the state. the latest casualty, yesterday's saginaw county announced it was delaying a $60 million bond sale that was planned for today. gentlemen, this is the concern that so many people have been wo worried about, this would have ripple effects through michigan and if a federal court approves this, throughout the rest of the country. >> the question for me at least is the answer that the state is supposed to get involved in a more meaningful way, the federal government? we talked about are you supposed to have a bailout? we know that there is going to be implications from doing this. but -- >> yes, but particular -- >> the flip side is a dangerous game too. >> but particular implications because the bond holders are being put at the back of the line with eve
the retail investor has got a scare. they heard about detroit. read the headlines about rising rates. dominate the fund market. 5% of bond markets have been sold the last three months. i can get it, 5.62% on ten-year, i think that's a great trade right now. >> what are you buying right now? >> i think we have the names mixed up. >> i'm ron. that's steve. >> i'm sorry. >> that's okay. i could have sworn when i asked ron the question, he answered it. >> sorry about that, guys. right now, we're kind of focused right now on in a fixed income markets. high yield, we think floating rates is a great opportunity. on the equity sides, what we have done, and interest rates rising over the long hall as we eliminated our position and we have added some points in the market. we can see a correction 5 to 10% we have looked at on equities. for ou client and what we are doing, we are looking long-term. >> do you think as well the municipal bond market has opportunity here? >> i think we do. if tax rates are going higher, no ifs, ands or buts about that. yield are more attractive p one thing to worry
i'm sitting right out detroit, they're running monetary growth rate at 80 miles an hour, plus, bill. they'll decelerate. they have to. i'll stand by what you and i have talked about, the most aggressive fed easing, i will know in my lifetime as an investor, and that's been one of the key catalysts to why small-cap stocks are up over 200% from their march 2009 lows, and more recently, small-cap stocks are up 40% from the november 15th post-election l s lows, and that, i think, is really centered on aggressive fed policy. >> and, michael, the last time you were on, we talked about this so-called revenue recession we seem to be in here, where we're in another earnings period where the bottom line expectations have been met with revenue numbers not there now. >> the same old thing. revenue is still short. i will say, though, there's something very positive in the economic reports. i think bob pisani mentioned it earlier, and he had a note out this morning about this. that the trade deficit was surprisingly small, or surprisingly narrow. and that very well could mean that we could have
munis got hurt on the detroit concern. is that an issue we'll see further problems with other municipalities down the road? >> that's a great point, bob. i think you'll see more complicated issues per state, but those are the ones where, you know, a good portfolio manager is going to look and say what are the revenues and tax revenues that will always be there? we'll be in our cars and rvs passing through turn pikes. >> you betcha. >> but it's an important point, and also to your point about china just getting back to the global markets. you're looking at a pe ratio going forward in the capital markets in europe about 12 to 13 times versus the united states which are approaching 14, 15 times so we're getting to be a little better value outside this country and a big contrarian indicator for portfolio workers. so having the "wall street journal" say emerging markets may have lost their luster, on the flip side i think there may be better values. >> appreciate it, j.j. burns. ty, up to you. >> general motors saying so long to south korea. this after mounting labor costs and mili
, mark. >> yeah, a big detroit tiger's baseball boo-yah to you. hello. >> yeah, go ahead, man, are you up. >> okay. my question is about general mills. >> oh, you must have been listening. i would say in '49, i don't care for buying it. that's my level. 50 got the points. james in new york. james caller hi, jim, boo-yah, how are you doing? >> really good, thank you. >> fine, thank you. my question is about sonic drive restaurants. they hit a recently 52-week high. they seem to be expanding. i want to know if there a any more upside to this stock. >> blooming brands, red robin gourmet, red robin gourmet burgers and yours, sonic, are all if they pull back, you got to do some multiple buys. that's the strongest good buy in the market other than the natural foods group. let's go to allen in florida. >> hey, how are you doing? b boo-yah, to you. >> this is allen from delray beach, louisiana. i want to knowant jazzo and the 96 direct offerings? >> i'm not jazz zo about jazzo at all. i'm tell, telling tell, you go to tilener michigan. tyler. >> hey, how are you doing? >> not bad. >> i was wonder
at the detroit auto show, immediately, people said huge improvement with the interiors. that is what gm is expecting will bring more people in the showrooms. always one of those cars that gives you great bang for the buck, now saying it has the styling and performance to match what the german automakers put out. quickly take a look at general motors the last couple of years. keep in mind, maria, there was a time when gm was in bankruptcy, they scrapped plans to come out with a new stingray, new corvette. obviously, that has changed. rolling into showrooms later this year. maria? >> wow. that is hot. 3.8 seconds, a gorgeous car. let me ask you guys a subtle question, i don't know if you heard what i asked the car earlier there is a study out that says people who drive expensive cars are the biggest jerks on the road and they put bmw at the top. do you think bmw drivers are jerks? >> no. what do you want me to say, maria? i don't think so. robert? >> keep in mind, prius drivers, i think prius drivers were either at the top of the list, above bmw, a close second. conan o'brien said prias d
, roughly the size of the city of denver or detroit. it is still very active today. it is chewing through forestland, it's feeding on dry fuel, it is threatening more than 5,000 homes. thousands of people in this region have been evacuated as this blaze continues to move. more than 1,200 firefighters are on the front lines trying to protect properties in this region. as you may be aware, there are some high-priced, high-end properties there, arnold schwarzenegger, tom hanks, among the many celebrities with second homes here. right now it's close to 10% contained, but they're certainly trying to build that protective ring around this blaze. it's a very aggressive fire. crews will be out here today in about 90 degree temperatures doing all they can to beat back those flames. the next 24 hours will certainly be critical. back to you. >> well, miguel, thank you very much. the heat out there obviously not helping fighting in the fire, but the heat is helping in terms of sales of tesla. its shares are up a whopping 328% this year. who is buying the car? phil lebeau is in chicago behind the whee
, bill, i wear watches. look, here's my watch from detroit. >> me, too. >> i love it. a great watch. >> yeah, how old are you, bob? we all have watches, too. okay? >> okay, all right. >> ask the intern. >> i did try the google glasses, though, whether they were down here. the google guys. you're right, maria, an awful lot going on. that one i'm having a hard time getting used to. i love my shinola. crummy 6% gain in the s&p 500. it's the best day since august 1st, believe it or not. that's how tough things have been. the emerging markets are a little calmer today. that may be helping stocks and bonds, up here in the united states. a little bit of flight to safety. it is again light volume. bear that in mind. we'll get more news flow, thank you, tomorrow, the home sales and fomc minutes will be out. people keep asking me, should i get out of emerging markets? can i point out, attempts at bottoming in china and brazil, over a month ago. china is up this month. brazil is up. and a lot of economic flow news out of china that's notably better. a lot of internet stuff playing around. sign
. i'm not sure that's progress. >>> a deadline looming in the detroit bankruptcy case. any objections to the city's bankruptcy filing have to be filed by 11:59 p.m. eastern time tonight. so far the only ones who filed legal objections have been former city workers. a court hearing to determine if detroit can file for chapter 9 bankruptcy is scheduled for late october. i know joe has been working on his filing. >> on what? >> bankruptcy filing? >> eventually. >> in dodd-frank. barry is here. we can ask him. >> did you read that? >> you have an idea. >> you must love that. >> where are we in terms of i don't know how you want to measure it? baseball games. >> 50 years. >> in terms of what's written? >> yes, but some people would say that the 50% that is not done is a horrible piece. >> we've also gone from 800 pages to 9,000 pages to get halfway done? >> exactly. >> and it was a 2010 law, and then you have obama care, the other big piece of legislation. 60 or 70%. >> two crappy weeks we're coming off. how bad it was. let's get some outlooks from our panel. joining us now on set is bob b
any wrongdoing in the matter. implications for detroit, a judge ruled the city of san bernardino is okayed for chapter 9. the biggest issue is pension costs, accounting for about 80% of its annual budget. at a nationwide strike of fast food workers is set for today. workers calling for higher wages. that's what this strike is all about. organizers are pushing for pay of $15 an hour, that's more than double the federal men mum wage of $7.25. joe. >> if you then said, okay, a third, we'll do that, but 40% of you will no longer have that. >> we're talking about. >> down that will work? if you said, okay, we'll do that, but only 40% of you will no longer have the job. >> i think they will be very unhappy. >> they'd say no, never mind. up next, currency itself, a rare studio appearance by bori boris schlassberg. it would be weird that someone mentioned we could be ike and tina. >> i was trying to keep that off if shelf. >> what investors can expect in september. "squawk box" will be right back. announcer: where can an investor be a name and not a number? scottrade. ron: i'm never alon
:40 cet. u.s. automakers are expected to post another solid sales month. are detroit's big three on the road to recovery? analysis at 11:45. allegations of tax avoidance have become reputational poison for global firms according to lloyd's new risk report. richard is here with us. he'll tell us why. and french banking giant socgen has a surge in second quarter profits. stephane will give us more with a first on cnbc interview from the group's ceo. that's up after the break. [ male announcer ] it's time. time to have new experiences with a familiar keyboard. to update our status without opening an app. to have all our messages in one place. to browse... and share... faster than ever. ♪ it's time to do everything better than before. the new blackberry q10. itime. >>> now, societe generale profits doubled in the second quarter from a year ago. stephane has been speaking to the man at the helm. he joins us now. stocks doing pretty well this morning. >> hey, ross. yeah. good set of results for societe generale, good set of numbers for the second quarter, boosted by the strong perfor
ohio and neighboring michigan has had all of these issues when it comes to detroit and funding its own system. in ohio i think you're somewhat underfunded. i think cnbc found you're in one of the positions they would be more worried about long term. isn't that to some degree pressing? >> i think they're both pressing. i think advocating for more transparency in government is important. to your point, the unfunded liabilities not just in ohio but nationally, it's an entirely different and i believe problem to a higher magnitude. we have to bear down as state treasures and governors and legislatures and have a conversation nationally about how to attack this problem. one of the main issues is that the rules the private sector has to live by are different from the rule the public sector lives by, and if we can apply more private sector accounting and private sector management to the government sector, i think these pension funds would be more healthy. the state treasurer in colorado has been very active on this. he's been working on congress to bring more transparency to public pensions a
wisconsin into lower michigan, holding together here for us, trying to make a run for detroit. so, maybe a little later this morning a few rumbles of thunder will be sneaking in there, and that's actually going to be the zone where we could be looking for some severe storms. anywhere in the red, central wisconsin back down across into portions of the upper ohio valley. we'll look for the main threats to be damaging winds and a bit of hail, but we can't completely rule out the isolated tornado either. south of all of that, it's the heat. that continues out there for us. we've got heat advisories, excessive heat warnings minneapolis down towards des moines. des moines's going to be a spot that we'll be talking temperatures getting up into the 100s, all thanks to this big ridge of high pressure that's in place. temperatures 10 to 20 degrees above average. so, that puts us well up into the 90s in many of these areas, and look at omaha, 100 degrees expected for today. so, a take it easy day in midwest. meanwhile, this big ridge is going to eventually slide into the south, so areas that have b
. thank you, rick. like markets, it's been a rough couple months for detroit, but superman is on the way. we'll explain what we mean by that when we come back. but tracking all the action and hearing everything from our marketing partners, the media and millions of fans on social media can be a challenge. that's why we partnered with hp to build the new nascar fan and media engagement center. hp's technology helps us turn millions of tweets, posts and stories into real-time business insights that help nascar win with our fans. (announcer) scottrade knows our and invest their own way. with scottrade's smart text, i can quickly understand my charts, and spend more time trading. their quick trade bar lets my account follow me online so i can react in real-time. plus, my local scottrade office is there to help. because they know i don't trade like everybody. i trade like me. i'm with scottrade. (announcer) scottrade. voted "best investment services company." [ agent smith ] i've found software that intrigues me. it appears it's an agent of good. ♪ [ agent smith ] ge software connects patie
. that's going to keep things unsettled. chances for storms on the increase from detroit, syracuse, back towards that 95 corridor. our last stop takes us into the southwest. tropical moisture meaning more showers and storms for the day. and some of these storms could produce some flash flooding issues. we'll have to keep a quick eye on these. more "squawk box" coming back in just a bit. >>> time now for the executive edge. it's a daily segment focusing on giving business leaders a leg up. our first story comes from cnbc's own larry kudlow where he says a key insider source tells him that geithner has been leading the search for ben bernanke's replacement as fed chairman. and larry points out the same source predicted a larry summers boom well before summers' name became public. and now the source says the only way to end the fighting between hopefuls yellen and summers is to find a third option, and that option is said to include geithner. along with former fed insider don kohn. what do you think? geithner running the fed? >> okay. i have been told repeatedly -- repeatedly, because this
. >> we want a stronger economy and not -- >> i don't know. >> a guy who grew up in detroit, the dislocations, they're just starting. >> yeah, the roach motel, we checked in. i don't know if we can ever check out. i hope they have room service and have on demand for you. you know what i'm saying. >> wi-fi. >> yeah. that's right. you don't even -- you just want free wi-fi. do you know how to hook that up to the wide screen? >> no, how do you do that? >> you're on the little thing? >> yes. >> bob, thank you for coming in today. alan, thank you. >> thank you. >> you can -- >> like a little putian. >>> the battle with dell, shareholders gathering in texas to vote on the buyout offer. and carl icahn pushes for an alternative. we head to a break. take a look at yesterday's winners and losers. a quarter million tweeters musicare tweeting.eamed. and 900 million dollars are changing hands online. that's why the internet needs a new kind of server. one that's 80% smaller. uses 89% less energy. and costs 77% less. it's called hp moonshot. and it's giving the internet the room it needs
, in order to talk about the muni market, we have to discuss detroit a bit. then we have to move towards chicago and illinois. that didn't have a good day in the market yesterday. or new york which today isn't having a good day. to understand munis, you have to have a muni guy. i'm going to bring my guy, my muni guy, matt fabian. in today's markets, a lot can happen in a second. with fidelity's guaranteed one-second trade execution, we route your order to up to 75 market centers to look for the best possible price -- maybe even better than you expected. it's all part of our goal to execute your trade in one second. i'm derrick chan of fidelity investments. our one-second trade execution is one more innovative reason serious investors are choosing fidelity. now get 200 free trades when you open an account. a talking car. but i'll tell you what impresses me. a talking train. this ge locomotive can tell you exactly where it is, what it's carrying, while using less fuel. delivering whatever the world needs, when it needs it. ♪ after all, what's the point of talking if you don't have someth
the competition. >> thank you. >> this might not be better fixed with regulation. it metro detroit be better fixed with competition. >> i think what has to happen is the changes have to reopen those stocks. if the other exchanges have to reopen nasdaq listed stocks to give people a chance to get out say the last 15 or 30 minutes of the day, i think that's the way to solve that problem. >> because the issue was not that you couldn't trade. this was not i put in the order, it doesn't get executed. there was no pricing data, so you are nervous about putting in the order. you don't know the what the trice price is on the other side. >> price is truth. if you don't know what truth is, you can't trade. in this case. >> there are different truths we know. different fold, different exchanges. >> some of the trades could have listed nasdaq stocks. i think that's the first thing that needs to happen is, the exchanges need to get together and say if this happens on stocks are listed on a particular exchange, we give them a chance to come back up. if they can't come back up, we will come back up the last 50 o
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